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20130101
20130101
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accepts this deal, being put together tonight, congress could claw back up the cliff. >> just hours before midnight deadline, president obama gathered supporters to announce a deal was within site. >> our immediate priority is middle class families starting tomorrow. i think that is a modest goal that we can accomplish. >> the vice president and senate republican leader leading negotiations, but phone shall deal is expected to increase estate tax from 35ses today 40%. extend unemployment benefits, and bring back higher clinton era tax rates on households making more than $450,000 a year, that $450,000 fresh hold is a major concession. tom harkin threatened to pull support. >> the deal must be one that favors the middle class and he cautioned rinz against taking a spending cuts only approach. >> if they think that is going to be the formula they've got another thing coming. >> some quickly condemned the comments. >> it's dismissive and insulting. >> that is not the way presidents should lead. >> for republicans in congress who said they'd never raise taxes on anyone, the deal to let the bus
the president just had to say in front of a pep rally. >> he comes out and calls people together and has a group standing behind him, laughs and jokes and ridicules republicans, what is -- why? >> reporter: if a deal finalized, and if passes congress, two big ifs, it would extend tax cuts for all workers under $400,000, prevent a big tax hike on estates under $5 million and extend unemployment benefits set to expire tomorrow for some 2 million people. so, the scramble continues tonight. congressional leaders trying to get to a deal that would pass both the house and the senate sometime over the next 24 hours or so, david. >> jon, stick with us here. i want to show the viewers at home that beautiful red and white crystal ball prepared to come down in times square tonight, blue and green, it changes colors as we look at it. the bottom line is, when that ball drops tonight, every american's taxes going up? >> reporter: that is exactly right. they will go up as of midnight. they are going to try to come back and fix it, but as of midnight tonight, everybody's taxes go up. >> all right, jon karl on t
Search Results 0 to 1 of about 2